ECONOMY

EU has made provisions for bridge loans to Greece, document says

eu-has-made-provisions-for-bridge-loans-to-greece-document-says

The European Commission has made provisions for a further 6.04 billion euros ($6.73 billion) in bridge financing for Greece in case the planned third bailout for Athens is not ready as quickly as hoped, according to an EU paper seen by Reuters.

Around 4.4 billion euros should be used to make debt repayments to the International Monetary Fund (IMF) and the European Central Bank (ECB), while 1.67 billion should be used to exempt non-euro zone countries from liability.

Eurozone finance ministers are due to meet in Brussels on Friday to discuss a third financial rescue that Greece has negotiated with its creditors.

[Reuters]